Cardano (ADA) has experienced a significant drop, falling to $0.35, a level not seen since November 2023. Over the past seven days, ADA has decreased by 7.7%, reflecting the broader market downturn.
Additionally, trading volume for ADA has declined sharply, down by 60.63%.
As the market grapples with this bearish trend, Cardano is gearing up for the Chang Hard Fork, scheduled to take place by the end of July. This major network upgrade is generating considerable anticipation among investors and developers alike.
Historically, Cardano has seen significant price movements around hard forks. Before its previous hard fork in 2021, ADA surged by an impressive 130%, climbing from $1.35 to $3.10 in just a month. This historical precedent has some investors hopeful that the upcoming Chang Hard Fork could spark a similar rally.
Cardano is preparing for the Chang Hard Fork, set to occur by the end of July.
It’s worth noting that before its…
